Morgan Stanley Downgrades Magna International to Equal-Weight, Lowers Price Target to $43
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley has downgraded Magna International from Overweight to Equal-Weight and reduced its price target from $55 to $43.

September 25, 2024 | 1:58 pm
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Morgan Stanley has downgraded Magna International from Overweight to Equal-Weight, reducing the price target from $55 to $43. This suggests a less optimistic outlook on the stock.
The downgrade from Overweight to Equal-Weight by Morgan Stanley indicates a shift to a more neutral stance on Magna International, suggesting that the stock may not outperform the market as previously expected. The lowered price target from $55 to $43 further implies a reduced growth expectation, likely leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100